Edmonton Real Estate Market Update: May 2 - May 8, 2015

New Listings: 366

Average List Price: $494,607

Average Sale Price: $438,432

Average Sale Price/Sq Ft: $289.59

Average Days on Market: 39

Total Sales: 200

New Listings for the first week of May surged from 289 to 366 gaining 26.64%. This is evidence that the market is starting to pick-up speed going to the Summer season. Average List Price on the other hand have taken a dip down to -3.57% from $512,934 to $494,607 as the effect of growing supply starts to factor in to the Single family home sales prices.

Average Sale Price, or the actual cost of homes being sold has bare moved, gaining .09% from $438,003 to $438, 432 this past week. We expect a continues increase in the succeeding weeks so it is best to buy now while prices still remain relatively low.

Good news to Edmonton home sellers as the Average Sales Price/Sq Ft have increased from 284.79 to 289.59, a decent gain of 1.68% in just under a week.

Average Day on Market and Total Sales are down -7.1% and -14.53% respectively.

Expect to see gains in newly listed homes and a recovery in the prices this week. To view the latest homes for sale in Edmonton, visit our new Edmonton MLS listings page.